Price of 5kg cooking gas decreased in July – NBS
The average price of refilling a 5-kilogram cylinder of Liquified Petroleum Gas (cooking gas) in Nigeria decreased by 14.23 in July 2024 to N5,97455 from N6,966.03 recorded in June.
The National Bureau of Statistics, NBS, disclosed this in its Liquefied Petroleum Gas Price Watch released on Wednesday.
The decreased price is significantly lower than the N7,418.45 a 5kg of cooking gas was sold in May 2024.
However, on a year-on-year basis, the July 2024 price of 5kg cooking gas is 46.69 percent higher than the N4,072.87 in the corresponding period last year.
On state profile analysis, Borno recorded the highest average price for refilling a 5kg cylinder of cooking gas with N7,088.59, followed by Yobe with N6,935.50, and Sokoto with N6,750.00.
Conversely, Delta recorded the lowest price with N5,392.86, followed by Zamfara and Kogi with N5,431.25 and N5,560.63, respectively.
In another level of analysis, the average retail price for refilling a 12.5kg cooking gas decreased by 9.37 percent on a month-on-month basis from N15,736.27 in June 2024 to N14,261.57 in July 2024. Meanwhile, on a year-on-year basis, this rose by 55.66 percent from N9,162.11 in July 2023.
DAILY POST recalls that in May, the price of 5kg cooking gas stood at N7,418.45.
The development comes as Nigeria’s inflation rate declined to 33.40 percent in July, for the first time since 2022.
Price of 5kg cooking gas decreased in July – NBS
